← California Governor's Race

Affordability takes over California’s messy governor race (May 12, 2026)

May 12, 2026 · 7m 35s · Listen

Affordability has swallowed California's governor's race whole — and the field just keeps getting more crowded. Welcome to California Governor's Race. Today we're sorting through who's really in this thing, what they're saying about housing and costs, and why this primary is shaping up to be a mess. Messy is generous. You've got a San Jose mayor running on data, a Riverside sheriff running on vibes, and Tom Steyer running on podcasts. The money map in this race is genuinely wild. And voters are actually asking for something concrete on affordability for once, so let's see who has a plan and who is just auditioning. KQED writes:

California’s next governor will inherit an affordability crisis that defies easy fixes: housing costs that have outpaced incomes for years, electricity rates among the highest in the nation, and gas prices nearly $2 above the national average — all in a state whose economy remains the envy of the country.

KQED has a full field-wide affordability breakdown ahead of the June 2 primary — housing costs have outpaced incomes for years, electricity rates are among the highest in the nation, and gas is nearly two dollars above the national average. That's the bill whoever wins is signing up for. Becerra's out there listing the pain points in a high school gym in Concord — fine, that's the optics. But the question I want answered is which of these candidates has a housing plan that actually pencils out, not just a talking point that survives one news cycle. That's the trap every candidate walks into. California's economy really is the envy of most of the world, but the cost structure is chewing up the people who actually live here. Trying to say that honestly in a primary speech is almost impossible. Here's Anjana Nagarajan-Butaney at India Currents:

Matt Mahan, the Democratic mayor of San Jose, is running for California governor on government accountability, public safety, housing affordability, and homelessness reform. He joins a crowded 2026 race that includes Democrats Katie Porter, Tom Steyer, Xavier Becerra, and Antonio Villaraigosa, as well as Republicans Steve Hilton and Chad Bianco.

San Jose Mayor Matt Mahan is in — officially jumping into the California governor's race. He comes out of Teach for America, has civic tech in his background, and he's pitching measurable outcomes over political vibes. San Jose is the tenth-largest city in the country, and he does have real operational numbers to point to — homelessness, housing permits, budget. The question is whether that turns into a statewide money map, because right now he's not the name donors are cutting checks to. 'Relentless about outcomes' is a perfectly fine bumper sticker, but every candidate in this field is going to say some version of that. What Mahan needs is a contrast — with Newsom's legacy, with the other Democrats already in this lane. He's got a window right now because the field isn't locked. If he can build a donor base in the South Bay tech corridor before the big money settles elsewhere, this isn't a vanity run. If he can't, it is. Here's Vicki Gonzalez, Andrew Garcia at KPBS:

Riverside County Sheriff Chad Bianco is consistently polling as one of the top three candidates in the race for governor. The Republican candidate sees a lot of problems with California and wants to take the state in a different direction.

Riverside County Sheriff Chad Bianco is running for California governor, and KPBS and CapRadio are doing the work here — they're going candidate by candidate before the primary. Credit where it's due. Bianco has been sitting in the top three in polling consistently, and that's not nothing for a Republican in California. The question is whether his lane is crowded or whether he actually owns it. His law enforcement background is the central credential here — he's leaning on affordability and immigration as the through-lines. That's a package built for a very specific slice of the California electorate, and he knows it. Polling top three in California as a Republican usually means you're bumping up against a ceiling, not building a floor. I want to see his fundraising splits before I buy the momentum narrative. Katelyn Leong, writing in Davis Vanguard:

According to Steyer’s press team, the discussion focused on plans to build more housing, lower housing costs for Californians and address barriers to development across the state. The interview also touched on “the special interests spending big against Steyer and his change agenda, including the California Association of Realtors,” the release stated.

Tom Steyer went on Pod Save America to talk housing — and his team made sure to flag that the California Association of Realtors is spending against him. That framing is pulling a lot of weight: YIMBY credibility on one side, real estate lobby villain on the other. The CAR angle is smart politics. Nothing lights up Democratic primary voters right now like 'the realtor lobby is mad at me.' But I want to see the money: who's actually funding Steyer's operation versus who's funding the opposition, because he's not exactly a small-dollar candidate himself. He also did this the same morning as an Ezra Klein-moderated housing forum, which is either very disciplined scheduling or his comms team is earning their keep. And credit to Davis Vanguard for flagging the sourcing here — this is basically a campaign press release dressed as news. From Benjamin Hart at Intelligencer:

Since the candidates who finish in first and second place will advance to November’s general election, the Republicans’ presence near the top of polls has raised fears that they could lock out Democrats from the governorship, even in a deep-blue state.

Intelligencer's framing is basically a polite version of 'how did California Democrats end up here.' Kamala Harris hovering over the field for months, then walking away for a book tour, functionally cleared the lane of anyone with real statewide name ID — and now they're scrambling. The Swalwell collapse is the inflection point nobody wants to talk about clearly. He had momentum, money, and a lane, and now Becerra is polling on the strength of 'well, he's not the guy with the allegations.' That's a thin foundation. Meanwhile Steyer's self-funding and the two Republicans are sitting near the top of a nonpartisan primary. The lockout math is real. Katie Porter's the one name in this field with a national donor base and actual earned media from her committee work — but California statewide is a different beast than an Orange County House seat, and she's never run this kind of race. If Bianco and Hilton — especially Hilton with the Trump endorsement — are consolidating enough Republican turnout to finish one and two in June, Democrats don't just lose the governor's race, they get locked out of the general entirely. I don't think the party is taking that scenario seriously enough in their spending right now. If you want to dig deeper, we’ve put links to every story from today’s episode in the show notes. Take a look and read the ones that caught your ear.

That’s California Governor’s Race for today. This is a Lantern Podcast.